Pending Multi-Family MLS# 4673068

4500 W 16th Avenue

Denver, CO 80204

$1,249,000

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About 4500 W 16th Avenue

Awesome covered-land play opportunity! This exceptional corner lot offers a fantastic development opportunity on a 9,370-square-foot site with U-RH-3A zoning, ideally located just one block from the coveted Sloan's Lake Park. The existing units benefit from strong rental demand, quick leasing, and phenomenal tenant retention, making this an attractive opportunity for both immediate income and future development potential.

Adding to the appeal, the City of Denver plans to invest $50 million in improvements to Sloan’s Lake, including shoreline restoration and water-quality improvements. These significant enhancements are expected to further improve the surrounding area and enhance the long-term appeal of the property.

Immediate income upside: Two family members currently occupy two of the units at below-market rents. Bringing both units to market rents supports an estimated 4.5% cap rate. The family member occupying the two-bedroom unit is vacating by the end of October, creating an opportunity to increase annual rental income by more than $7,500. The family member residing at 1591 Utica is currently below market, with a lease ending July '27. With strong existing rental performance, significant near-term income upside, desirable zoning, and a prime location near Sloan’s Lake, this property presents an excellent combination of current cash flow and future development potential.

Showing Instructions: Listing agent Will McKinlay must be present for all showings. Please provide tenants with at least 24 hours’ notice prior to any showing.

Property details

Property

Type
Quadruplex
MLS type
Residential Income
Status
Pending
Year built
1954
Stories
2
Living area
3,613 sqft
Price / sqft
$346
Lot
0.22 AC / 9,370 SF
MLS #
4673068

Interior

Features
Butcher Counters, Ceiling Fan(s), Pantry, Smoke Free
Appliances
Cooktop, Disposal, Dryer, Microwave, Oven, Refrigerator, Washer
Flooring
Tile, Wood
Heating
Forced Air
Laundry
In Unit, Multiple Locations

Exterior & lot

Features
Fire Pit, Garden, Gas Grill, Private Yard, Rain Gutters
Roof
Composition
Lot
Corner Lot, Landscaped, Level, Near Public Transit, Sprinklers In Front, Sprinklers In Rear
Patio & porch
Covered, Patio
Fence
Partial
View
Lake
Parking
Concrete, Storage

Schools

District
Denver 1
Elementary
Colfax
Middle
Strive Lake
High
North

Utilities

Utilities
Electricity Connected, Internet Access (Wired), Natural Gas Connected, Phone Connected
Water
Public
Sewer
Public Sewer

Financial

Annual tax
$5,745
Parcel
2313-12-014
Special conditions
None Known

Location

Subdivision
Sloan's Lake
County
Denver

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Listed by Will McKinlay, Capital Property Group LLC

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